British Land Share Discussion Threads

[ntv] 29/10/2017 14:04

big battle on Friday, lets so who wins

[chiragmahe] 27/10/2017 10:37

yields at 5,10%

Not bad

[chiragmahe] 27/10/2017 10:36

589.64 and falling hmmmmm

[ntv] 26/10/2017 15:13

land broke the other day, missed the short at £10, stop out blnd long and not about to reverse so will probably test the recent lows
may even test post bexit vote lows .
now that would be interesting
As i said before these larger companies can't buy anything because the large discount to nett asset value so any purchase is immediately dilutive so it is taking the bigger players out of the market
Buying in their own shares is the only option

[cmackay] 26/10/2017 01:07

I would like a few hundred at anything up to 605 if I can get the trade exit I'm looking for elsewhere. Would go higher if need be though.

[chiragmahe] 23/10/2017 09:51

Looks like it’s going to test 600p again

[skyship] 22/10/2017 14:10

Sorely tempted to buy back in for the 4.8% yield & potential rise back to the 475p level; at which level the shares would still be on a 4.3% yield.

The concern holding these back surely has to be summarised in this link posted by Yieldsearch on the CP+ thread - an interesting take on the London office market:

[cmackay] 21/10/2017 16:08

The information is available in rns, I would guess they wouldn't on that basis. But it's worth an ask, and maybe LSE if no luck?

[hair2] 20/10/2017 13:36

Is it the kind of information they'd divulge if someone emailed BLND?

[chiragmahe] 20/10/2017 12:22

US Senate adopted a fiscal 2018 budget resolution. Global stocks soar.

Would be good if BLND produced an excel RNS that way we could calculate fast.

[cc2014] 20/10/2017 10:57

Difficult to even make an estimate as one day they buy 800k shares. Another day they buy 160k shares.

There's a decent sized buyer on it today but sells still going through across the sector after IWG yesterday

[cmackay] 20/10/2017 03:26

Without tallying the rns figures, no idea

[chiragmahe] 18/10/2017 12:52

any idea how much of the 300m buyback is done?

[cc2014] 18/10/2017 11:45

I guess it depends where you bought. I've got some from 5.42, some at 5.78 just after Brexit both to hold long term and some at 6.09 to trade in and out.

As long as I'm getting a decent dividend and a bit of capital appreciation I'm happy.

The discount to NAV will close once the outcome of Brexit is clear. Deal with Europe = 20% rise. No deal with Europe but clarity = 5% rise. On-going lack of clarity could push the share price lower.

All imho

[ntv] 18/10/2017 11:11

“This rolling buyback programme reflects our commitment to seeking the best long-term returns for shareholders.

“We continue to see strong demand in the investment market, which makes opportunities to acquire new standing assets, at attractive returns, more limited than usual.

“With our shares trading at a substantial discount to NAV [net asset value] and providing a 5 per cent dividend yield, allocating capital into a share buyback represents a clear value opportunity.”

same share price as it was in 2013, that is 4.5 years ago. how long have you got and
it is all down to poor management
two and half year view is even worse with 25% plus fall in the share price
should have been buying back millions of shares down here if they didn't have any doubt about their own strategy. huge discount

[nisbet] 18/10/2017 11:09

Spot on cc2014. A dividend payment is effectively the cost of the equity capital, so using positive cash-flow to buy equity for cancellation is a no brainer. The icing on the cake is that you are also buying £1 worth of assets for 67p.

[cc2014] 18/10/2017 10:53

Given that they can borrow at around 2.5% on a 20-30 time horizon and the dividend yield is around 5%, then it makes sense to buy back the shares.

It would be good it they could go and buy them all back until I'm the last shareholder left and I own the company.
I'm not sure what this would do for BLND's NAV but it would be very good for my NAV

[riverman77] 18/10/2017 10:18

Yes but you would then sell and take the 30% capital gain, until that happens you pick up the attractive dividend.

[chiragmahe] 18/10/2017 08:45

however at a higher price the yield drops lower. Considering inflation is at 3% it could mean no real gain from div.

[cmackay] 18/10/2017 00:56

Selling at even close to value isn't going to be a 5 minute job. Better to wait for higher confidence. In the meantime, from a minor PI perspective, this is a bread and butter share to set up a nice quarterly dividend until property gets its glands back. It's about 7.5% of my ISA and plan to top up this month

[ntv] 17/10/2017 15:58

not sure the relevance
track record over the last 4 years is poor compared to the ftse (share price performance)
they can't buy anything because the shares trade at such a deep discount to supposed asset value. To increase nett assets they need to buy in their own shares in much larger quantities.
the amount they are buying back is pointless. this will show when the results come out.
selling a property at close to asset value and buying back more shares might close the discount as well and give management some credibility.

[chiragmahe] 17/10/2017 10:33

whats the impact of that?